While every market has experienced the effects of economic downturn – the national vacancy rate has almost doubled from its low point in 2000 – those with a heavy reliance on technology, telecom, and travel have been hit the hardest. These industries have had the most severe job losses, which results in higher vacancies, rent concessions as managers compete for the remaining pool of renters, and general market softness. The hardest hit markets include Austin, Texas; Seattle; San Jose, Calif.; Portland, Ore.; Denver; Charlotte, N.C.; Orlando, Fla.; and Tampa, Fla. Meanwhile, conditions in more diversified economies, such as Atlanta, Dallas, and Phoenix have suffered from weak demand and oversupply.